A new survey shows that a majority of Americans feel dissatisfaction with their current pay, especially the youth age 18 to 29.
Surveying 5,274 U.S. workers in early October, the Pew Research Center survey showed only 30 percent of Americans feel satisfied with their current pay – a four-point drop from last year. The bulk of the dissatisfaction – 80 percent – stemmed from workers saying that their wages could not keep up with the higher cost of living, i.e., inflation.
“Our data paints a mixed picture of the American workforce: Most workers feel good about their job security, but only half are highly satisfied overall and fewer are highly satisfied with their pay,” Luona Lin, a research associate at Pew, told the Washington Post.
On the youth front, a full 57 percent of workers aged 18 to 29 expressed dissatisfaction with their pay; workers ages 65 and up were almost the opposite.
“Among workers ages 65 and older, two-thirds say they are highly satisfied with their job. Just 43 percent of workers ages 18 to 29 say the same,” noted the survey.
The unemployment rate in the United States currently stands at 4.2 percent, but most workers did not feel it would be easy to find a job if they became unemployed.
“By most measures, the job market remains remarkably strong. Unemployment, at 4.2 percent, is near longtime lows, and employers are generally laying off fewer people than they were before the pandemic,” noted the Washington Post.
“As a result, a majority of workers — 52 percent — said it would be difficult to get the kind of job they’d want if they were to look for a new position, up from 37 percent in 2022. That was especially the case among workers in their teens and 20s, and those with lower incomes, Pew found,” it added.
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